1992 (8) TMI 33

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..... s of export of various commodities from India. In addition, the first petitioner also deals in silver. The petitioners also earn income by way of interest on advances made by them to other parties. For the assessment year 1989-90, the petitioners claimed deduction under section 80HHC and calculated the same in accordance with section 80HHC(3), as it stood at the relevant time. Under section 80HHC( .....

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..... made by them. In respect of this assessment, the appeal of the petitioners is still pending before the Tribunal. The petitioners have prayed that pending the disposal of this appeal, the demand raised by the respondent for the assessment year 1989-90 be kept in abeyance. Under the interim order which was passed in this petition on July 1, 1991, the respondents stated that they will not take any st .....

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..... Rs. 4,38,480. The respondents, however, have recalculated the deduction claimed by the petitioners under section 80HHC and have, as a result, " adjusted " the total income to Rs. 51,54,470 and have accordingly claimed by way of tax Rs. 12,07,812 after adjusting the amount already paid. An additional tax under section 143(1A) has also been levied which forms part of the total tax demand of Rs. 12, .....

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